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INTORDUCTION The constant and rising current account deficit in the United States reflect by huge and mounting current account surpluses elsewhere, especially with reference to Asia. These form of imbalances giving a clear sign that the financial activities which are related with mismatches in investments and savings on global level. If we look at few years back in late 1990s, a large number of economies outside the United States came up to the mark through increasing their net national savings. At the same time an initiative taken by the US authorities to reduced its net national savings and putting more focus on foreign borrowing. If we talk about geographical imbalances we would see that they are not that much bad as such nor they generate capital flows through these kinds of imbalances. Certainly there should be some kind of defined process that gives a mechanism to work through global markets (World...

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